Several articles today provide good opportunities to apply the Production Possibilities Curve to contemporary economic events. Could you identify how either of these articles would contribute to either growth and/or development in the American macroeconomy, and/or individual firms? How might such growth be graphically represented?
A lot of news and punditry has been devoted recently to the Graham-Cassidy bill to repeal and replace the Affordable Care Act (i.e., ACA, a.k.a., Obamacare). There is nothing new in the bill that makes it demonstrably better than its previous and failed iterations. Personally, I hoped Sen. Graham would be one capable of simultaneously demonstrating empathy and sound policy decision-making, but alas my hopes are now dashed with his sponsorship of this bill. Most importantly, because he supports a vote for a bill without any knowledge of its effects that would otherwise be provided by the reliable and nonpartisan Congressional Budget Office. What’s more, their insistence on voting for it without a score suggests that they are aware of what a CBO score will reveal – a bill that does more harm to most Americans than Obamacare or no bill at all. For information and analysis of the bill: